Perpetual DEX rankings undergo major changes: Lighter tops the charts in a single day, while Aster's trading volume is cut in half

【Block Rhythm】The world of perpetual contract DEXes has recently undergone another reshuffle. On November 11th, Lighter suddenly surged to the top spot, with 24-hour trading volume soaring to $10.69 billion.

Even more dramatically, Aster, which was thriving the day before with a trading volume of $11.94 billion, was halved overnight to $5.7 billion. This turbulence makes the overall landscape of the Perp sector look quite unstable.

According to the latest data from Defilama, the current distribution of top players is as follows: Lighter leads with a trading volume of $10.69 billion, but its TVL is only $1.152 billion; Hyperliquid follows closely with $8.71 billion in trading volume and $4.799 billion in TVL, showing a much thicker capital deposit; EdgeX has achieved $5.82 billion in trading volume, with a TVL of $491 million.

After the halving, Aster’s current trading volume is $5.7 billion, and its TVL remains at $1.469 billion. Further down the list, ApeX has $2.68 billion, Pacifica $1.03 billion, and Paradex $966 million, with these players clearly operating at a different scale.

Interestingly, the ratio of trading volume to TVL varies significantly among these platforms, indicating different user behaviors and capital efficiency characteristics.